Source: Kim Leger, 4-H youth development specialist

It is never too early to learn how to manage finances or be a smart shopper. Kentucky 4-H offers financial and consumer education to help youth develop sound financial management skills.

Teaching young people about finances early is very important in helping them establish sound financial practices as they age. A study conducted by researchers at Cambridge University in 2013 found that youth establish money habits as early as age 7. A 2014 study conducted by researchers at the Federal Reserve Board showed young people who were exposed to personal finance education had credit scores between seven to 29 points higher than students who did not have financial education classes.

Through research-based curriculum and activities, 4-H offers young people the opportunity to learn about topics that will help them be better money managers and savvy consumers including income, expenses, budgets and goals that are specific, measurable, attainable, relevant and time bound or SMART.

4-H offers a variety of consumer and financial management curricula to achieve this goal, including The Consumer in Me, Consumer Wise, Consumer Roadmap, 4-H Build a Million, It’s Your Reality and High School Financial Planning.

4-H members have the opportunity to further their understanding of finances by participating in financial-related projects. Project work helps youth learn consumer and financial terminology, make informed purchasing decisions, learn the differences between needs and wants, discover how to set and meet financial goals and learn their rights as a shopper. Some example of projects include speeches or demonstrations about financial or consumer-related topics, volunteering at a fundraiser for a local charity, running for treasurer of a local 4-H club and serving as a mentor to younger 4-H’ers about financial basics.

Establishing good financial habits early can help set young people on the path to successful money management as adults. More information about local 4-H consumer and financial management opportunities, contact the (COUNTY NAME) office of the University of Kentucky Cooperative Extension Service.

Educational programs of the Cooperative Extension Service serve all people regardless of economic or social status and will not discriminate on the basis of race, color, ethnic origin, national origin, creed, religion, political belief, sex, sexual orientation, gender identity, gender expressions, pregnancy, marital status, genetic information, age, veteran status, or physical or mental disability.

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